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20110701
20110731
Search Results 0 to 7 of about 8 (some duplicates have been removed)
dollars down the drain. thanks to npr we know about loads of unused spare change piling up as the nation stares down its debt. abc's jon karl explains. >> reporter: we took a journey to the u.s. mint in philadelphia for a lesson in how the government is losing money by making money. this is the presidential dollar coin. congress ordered the mint to make millions of them to honor every dead president but nobody seems to want them. they cost 32 cents a pop to make. the mint makes nearly 2 million of them every day. do the math. about 600,000 dollars a day to make them. because almost nobody uses these things, most go directly into storage. we found a bunch of them 100 miles down the road in a vault. here at the federal reserve in baltimore, the coins are packed into plastic bags stacked one on top of each other all the way up and down this aisle several aisles of them, millions and millions of dollars in presidential coins. federal reserve says they are piling up so quickly they are spending $650,000 to build a new vault in dallas to hold them. shipping the coins there will cost another $3
are wondering where the government can cut costs. the npr came up with one idea. >> each day the u.s. treasury mints nearly $2 million in coins. coins that mostly go directly into storage. abc's john karl checked it out. >> reporter: we took a journey to the u.s. mint in philadelphia where they seem to have more doors than "get smart." for a lesson in how the government is losing money by making money. it sounds a little bit like las vegas around here except the coins never stop coming. this is the presidential dollar coin. congress ordered the mint to make millions of them to honor every dead president. but nobody seems to want them. rutherford b. hayes. hot off the press, literally, these coins are still warm. made of manganese brass, they cost nearly 32 cents a pop to make. the mint makes nearly 2 million of them every day. do the math. about $600,000 a day to make them. and each one of these bags, 140,000 coins, $140,000, more than 2,000 pounds. because almost nobody uses these things, most go directly into storage. we found a bunch of them 100 miles down the road in a vault. here at the f
. let's try out this one, a quote from president obama on npr. he said, ronald reagan repeatedly talked about how irresponsible it would be to allow the full faith and credit of the united states to be impaired in any way. what's verdict on that one? >> we rated this one mostly true. we dug into the historical documents and we found reagan did say the u.s. should pay its debts and it should not be in document now, presidents usually support increases to the debt ceiling while congress comp plain it we know that, rated mostly true. >> finally, it one from victoria jackson, she's comedian and tea party supporter. a clause niptd obama care bill, which is now law, gives obama the right to form a private army. what do we make of that? >> this one got the pants on fire. it seemed to be a serious commentary so we took it seriously and checked it. the health care law does expand the public health service, which has a uniformed commission corps, but doctors and nurses, not members of the military no private armies in the health care bill. >> she is a comedian, maybe she was joke, we will give he
's just a clear violation of the law. >> we know your problems with npr and our problems because of that as well. do you think they would even do something like this? >> no, i don't know of any example where they've engaged in that kind -- obviously, they will stigmatize people by, you know, only giving one point of view but here, you have a situation with media matters where if you at all vary from some sort of liberal orthodox, you're in their cross hairs, they attack in a way that is intended to ruin your personal life, ruin your business. it has nothing to do with an honest debate. to me, this is the contrary of everybody who says, you know, we love america. we want to have a debate between left and right. let's get the truth out. here are where you're right on the facts and here's where you're wrong on the facts. that's not what's going on here. people need to understand, this is about ruining people and trying to take a company down to destroy a company. >> right. we'll have you on again. can't wait to talk to you about your new book "muzzled". congratulations on it. talk
Search Results 0 to 7 of about 8 (some duplicates have been removed)